Tin price closes higher
The tin price on the Kuala Lumpur Tin Market (KLTM) rose US$80 per tonne today to close at US$22,930 per tonne, helped by scattered buying, a dealer said.
He said the metal price was further supported by buying interest from foreign traders.
"Overall, the majority of buyers were from Europe," he added.
He said the rise in the KLTM price was also in tandem with the uptrend on the London Metal Exchange (LME), which improved US$50 per tonne to US$22,875 per tonne.
On the local front, bids amounted to 43 tonnes against offers of 30 tonnes at the opening bell.
Turnover decreased to 30 tonnes against the 37 tonnes recorded on Thursday, with European, Japanese and local traders accounting for today's transaction.
The premium between the KLTM and the LME widened to US$455 per tonne from US$424 per tonne yesterday.-- Bernama